To follow normal accounting procedures you would need two transactions. One debiting the receiving account and one crediting the sending account. Banks credits and debits are backwards from other accounting methods. In other words money added to your account is a debit an removed from your account is a credit. Don't ask me why just something I remember from class. Any ways you have to show both transactions because they cancel out each other as far as the accounting side is concerned leaving 0 funds left over. If you have a transfer fee involved then you need three transactions. Total removed from account, amount added to receiving account, and amount going to fee account.

sundeep.gurroby

6 Years Ago

Thanks...i have an idea of this. But i would like to know how you transfer it into coding and usually a webpage where i can do manual transactions transfers for any desired amount and this should update into the users balance table.